IPO: Shankara Building Products Limited

Radio city-music broadcast ipo

ISSUE PERIOD : 06-Mar-2017 to 08-Mar-2017
PRICE RANGE: Rs 324 to Rs 333



           Radio City is the first private FM radio broadcaster in India. Radio City operates their radio stations under the brand “Radio City”. We have grown our presence from four cities in 2001 to 37 cities as on February 15, 2017. These radio stations include the eight “Radio Mantra Stations” transferred from SPML pursuant to the Scheme of Arrangement and nine out of eleven New Radio City Stations. They expect the remaining two New Radio City Stations to be operationalised by March/ April 2017. We are present in 12 out of the top 15 cities in India by population (Source: Census 2011). As on March 31, 2016, our radio stations reached out to over 49.60 million listeners in 23 cities covered by AZ Research (Source: AZ Research Report).
           All their Phase II Radio City Stations which were under Phase II Policy have been migrated to the Phase III Policy. These include Radio City stations which are present at Bengaluru, Lucknow, Mumbai, New Delhi, Chennai, Pune, Hyderabad, Ahmedabad, Surat, Nagpur, Jaipur, Vadodara, Coimbatore, Vizag, Ahmednagar, Sholapur, Sangli, Nanded, Jalgaon and Akola and the Radio Mantra Stations which have been transferred to our Company pursuant to the Scheme of Arrangement which are located at Agra, Bareilly, Gorakhpur, Varanasi, Jalandhar, Ranchi, Hissar, and Karnal (together the “Existing Radio Stations”). Under the Phase III Policy, new cities were opened up for auction, pursuant to which our Company acquired 11 additional radio stations i.e. the New Radio City Stations. The New Radio City Stations which have been operationalised are located at Kanpur, Ajmer, Kota, Udaipur, Patiala, Jamshedpur, Nasik, Kolhapur and Madurai. The remaining two New Radio City Stations namely Bikaner and Patna are expected to be operationalised by March/ April 2017. Under the Phase III Policy the license period for radio stations has been increased to 15 years and radio stations are now permitted to carry news bulletins of AIR and also network their radio stations in all cities. We networked our stations located at Sangli, Nanded, Jalgaon, Sholapur and Akola in Maharashtra and operate it from a single hub at Ahmednagar. Similarly, they networked our radio station in Kota from our Udaipur radio station, Ajmer radio station from our Jaipur radio station, Jamshedpur radio station from Ranchi radio station and Patiala radio station from Jalandhar radio station. They plan to replicate this similar structure for our radio station in Bikaner, which will be networked from Udaipur.

Promoters of the company:

The Promoter of the Company is JPL (Jagran Prakasha Ltd)

Source: DRHP

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Issue Period 06-Mar-2017 to 08-Mar-2017
Post issue Modification Period 09-Mar-2017 (between 10.00 a.m. to 1.00 p.m. only)
Issue Size Initial Public offer of Fresh issue of Upto 4,000 Million and offer for sale Upto 2,658,518 Equity Shares (including anchor portion of 4,401,158 Equity Shares)
Issue Type 100% Book Building
Price Range Rs 324 to Rs 333
Face Value Rs 10
Tick Size Rs 1
Market Lot 45 Equity Shares and in multiples thereof
Minimum Order Quantity 45 Equity Shares
Maximum Subscription Amount for Retail Investor Rs. 2,00,000
Maximum Bid Quantity 1,04,80,770 Equity Shares (in multiples of 45 equity shares and calculated at the lower end of the price band of Rs. 324/-)
IPO Market Timings 10.00 a.m. to 5.00 p.m.
Book Running Lead Managers ICICI Securities Limited
Syndicate Member ICICI Securities Limited
Categories FI, IC, MF, FII, OTH, CO, IND, NOH
Name of the Registrar Karvy Computershare Private Limited
Address of the Registrar Karvy Selenium Tower B, Plot No. 31-32, Gachibowli Financial, District, Nanakramguda, Hyderabad 500 032
Contact person name number and Email id Mr M Muralikrishna, +91 91 40 6716 2222; mbl.ipo@karvy.com

Source: NSE

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